Wednesday, June 29, 2011

Merkel: Europe Will Beat Debt Crisis

Wall Street JournalJune 29, 2011

German Chancellor Angela Merkel said Wednesday that euro-zone leaders would be able to overcome the bloc's ongoing debt crisis, even in the face of difficult decisions that pit national interests against those of the broader currency zone.

"I want to say that we'll get through this crisis," Ms. Merkel said at a conference sponsored by her party, the Christian Democratic Union.

Speaking in Berlin, Ms. Merkel also said that Greece's approval of new austerity measures is an important step for the country and for the stability of the euro as a whole, German Chancellor Angela Merkel said Wednesday in Berlin. The German leader that Greece's vote would also help the country's economy grow and become more sustainable over time. Greece has no alternative other than to become more competitive, Ms. Merkel said in a televised statement. The Greek parliament earlier Wednesday signed off on a new round of austerity measures demanded by euro-zone leaders and the International Monetary Fund in exchange for more aid.

Other Blogs by Aristides Hatzis

Subscribe to "The Greek Crisis"

Search This Blog

by Petar Pismestrovic

About

This blog is dedicated to the understanding of the current Greek (but also European) economic, political and institutional crisis. It was created by Prof. Aristides Hatzis of the University of Athens, after many requests by his students who seek a source of reliable analysis on the Greek current affairs. Its aim is to post commentary and reports published mainly in the major U.S. and European media and to encourage a rigorous discussion.